The global Nanoclay Reinforcement Market is forecast to reach USD 13.12 billion by 2027, according to a new report by Reports and Data. Low manufacturing costs and the ease of availability of these materials have prompted plastic manufacturers to increase the utilization of these materials, and hence, this has resulted in continuous market growth during the forecasted period. Reinforcement Of Soils accounts for approximately 70% of revenue and is the most consumed nanomaterial commercially.
Thermal stability, mechanical strength, anti-corrosiveness, and Chemical resistance are the properties that make it a preferred material in various end-user sectors. The rising demand for nanocomposites is another factor driving the market growth.
The major drivers of the usage of nanocomposite polymer components in the automotive sector are improved engine efficiency, reduced CO2 emissions, higher performance, and vehicle weight reduction. Moreover, Reinforcement Of Soil provides excellent exfoliation and dispersion, excellent flame retardant synergy, reduced relative heat release, and reduced weight. Increasing research development in nanotechnology is likely to further boost the global Reinforcement Of Soil market demand in automotive parts applications.
An integrated value chain combined with a high concentration of suppliers is anticipated to pose high barriers to entry to the new entrants in the industry. But, the government support for research development in nanotechnology is estimated to encourage the new entrants in the industry in the next few years.
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Market Dynamics:
The materials and chemicals industry is rapidly gaining traction over the forecast period and is expected to expand significantly in the coming years. Technological advancements and rising innovation are key factors boosting the global market growth. The global Reinforcement Of Soil markets is projected to register robust revenue CAGR during the forecast period between 2021 and 2027. Increasing awareness about green energy and eco-friendly biodegradable products, and the environmental impact due of carbon emissions are a few key factors supporting market growth. High demand for various chemicals and raw materials in various industrial sectors such as food and technology, pharmaceutical and biotechnology, manufacturing, paint and coating, paper, and plastic among others. In addition, increasing research and development activities, growing demand for products like perfumes, soaps, and detergents for daily usage along with rising disposable income across the globe are further boosting the market growth.
The report offers in-depth insight into prominent players in the market, their market position, global and financial standing, license agreement, brand promotions, and product portfolio. The global Reinforcement Of Soil market is highly competitive and consists of various key players at global and regional levels. These players are adopting various strategies like joint ventures, collaborations, partnerships, and new product launches to strengthen their market position.
Leading companies operating in the market and profiled in the report include:
Nanocor Incorporated, BYK Additives, Nanophase Technologies, 3M ESPE, Laviosa Chimica Mineraria Spa, Powdermet, Inframat Corporation, Hybrid Plastics, Axson Technologies SA, and Zyvex Technologies, among others.
Reinforcement Of Soil Market Segmentation:
Distribution Channel Outlook (Revenue, USD Billion; 2017-2027)
- Online
- Offline
Application Outlook (Revenue, USD Billion; 2017-2027)
- Packaging
- Automotive parts
- Coatings
- Others
End-User Outlook (Revenue, USD Billion; 2017-2027)
- Automotive
- Construction
- Marine
- Electronic components appliances
- Military defense
- Others
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